has broken fibonacci resistant levels 23.6% & 38.2% without an effort.
After passing 23.6% fibonacci level (5325-5335), there was a short pullback to again 23.6% but
ASI advanced to the 38.2% level with a gap efforlessly.
However reachine 50% fibonacci resistance was proven hard and now ASI heading towards
38.2% fibonacci level (5740-5750) once again which acts as a support level now.
Figuratively fibonacci level supports (visual) in DFN charts are;
23.6% - 5325-5335
38.2% - 5740-5750
50.0% - 5990-6100
Then drawing another fibonacci retracement taking the bottom and recent high, the near term
fibonacci levels are;
23.6% - 5670-5675
38.2% - 5465-5470
50.0% - 5327-5335
Now the recent support at 23.6% - 5670-5675 or ealier support @ 38.2% - 5740-5750 would have
to be watched.
More over the three black crows candle pattern looks also on the cards. If so today's low may reach 23.6% fib or near..
But look at the overall picture from RSI, ADX & MACD.. All indicators show @$@#$@
My views may be different.. Due attention should be given pls.. Ppl who dont believe tech, I have nothing to tell.. Who knows if GSF is active we can see ASI going up.. After all it can become the largest cap passing DIST and reachine JKH
Last edited by smallville on Thu Sep 20, 2012 11:19 am; edited 1 time in total (Reason for editing : corrected a small type on fib level..)